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Boston Properties Announces 2018 Tax Treatment of Its Distributions

BOSTON--(BUSINESS WIRE)--Jan. 15, 2019--
Boston Properties, Inc. (NYSE: BXP), one of the largest publicly-traded
developers, owners and managers of Class A office properties in the
United States, announced today the 2018 tax treatment of distributions
on its common stock and 5.25% Series B Cumulative Redeemable Preferred
Stock, as described below. Shareholders are encouraged to consult with
their personal tax advisors as to the specific tax treatment to them of
these distributions.

Common Shares (CUSIP #101121101)

Record Date

PaymentDate

TotalDistributionper Share

TotalDistributionAllocableto
2018

2018TaxableOrdinaryDividends

2018QualifiedDividends(1)

2018Short-termCapitalGain
(1)

2018 TotalCapitalGainDistribution

2018UnrecapturedSection 1250Gain
(2)

2018Section199ADividends(1)

12/29/2017

1/30/2018

$

0.800000

$

0.333828

$

0.260957

$

0.000786

$

0.000242

$

0.072871

$

0.025387

$

0.259929

3/29/2018

4/30/2018

$

0.800000

$

0.800000

$

0.625369

$

0.001885

$

0.000581

$

0.174631

$

0.060838

$

0.622903

6/29/2018

7/31/2018

$

0.800000

$

0.800000

$

0.625369

$

0.001885

$

0.000581

$

0.174631

$

0.060838

$

0.622903

9/28/2018

10/31/2018

$

0.950000

$

0.950000

$

0.742625

$

0.002238

$

0.000690

$

0.207375

$

0.072245

$

0.739697

12/31/2018

1/30/2019

$

0.950000

$

0.688054

$

0.537859

$

0.001621

$

0.000500

$

0.150195

$

0.052325

$

0.535738

$

4.300000

$

3.571882

$

2.792179

$

0.008415

$

0.002594

$

0.779703

$

0.271633

$

2.781170

100

%

78.1711

%

21.8289

%

(1) These amounts are a subset of, and included in, the 2018 Taxable
Ordinary Dividend amounts.

(2) Unrecaptured Section 1250 Gain is a subset of, and included
in, the 2018 Total Capital Gain Distribution amount.

The common stock distribution with a record date of December 29, 2017 is
a split-year distribution with $0.333828 allocable to 2018 for federal
income tax purposes. The common stock distribution with a record date of
December 31, 2018 will be a split-year distribution with $0.688054
allocable to 2018 for federal income tax purposes and $0.261946
allocable to 2019 for federal income tax purposes.

Series B Preferred (CUSIP #101121408)

Record Date

PaymentDate

TotalDistributionperDepositoryShare
(1)

TotalDistributionAllocableto
2018

2018TaxableOrdinaryDividends

2018QualifiedDividends(2)

Short-termCapitalGain (2)

2018 TotalCapitalGainDistribution

2018UnrecapturedSection 1250Gain
(3)

2018Section199ADividends(2)

2/2/2018

2/15/2018

$

0.328125

$

0.328125

$

0.256499

$

0.000773

$

0.000238

$

0.071626

$

0.024953

$

0.255488

5/4/2018

5/15/2018

$

0.328125

$

0.328125

$

0.256499

$

0.000773

$

0.000238

$

0.071626

$

0.024953

$

0.255488

8/3/2018

8/15/2018

$

0.328125

$

0.328125

$

0.256499

$

0.000773

$

0.000238

$

0.071626

$

0.024953

$

0.255488

11/2/2018

11/15/2018

$

0.328125

$

0.328125

$

0.256499

$

0.000773

$

0.000238

$

0.071626

$

0.024953

$

0.255488

$

1.312500

$

1.312500

$

1.025996

$

0.003092

$

0.000952

$

0.286504

$

0.099812

$

1.021952

100

%

78.1711

%

21.8289

%

(1) Each depositary share represents 1/100th of a share of Series B
Preferred Stock.

(2) These amounts are a subset of, and included in, the 2018
Taxable Ordinary Dividends amounts.

(3) Unrecaptured Section 1250 Gain is a subset of, and included
in, the 2018 Total Capital Gain Distribution amount.

Boston Properties (NYSE: BXP) is one of the largest publicly-traded
developers, owners and managers of Class A office properties in the
United States, concentrated in five markets - Boston, Los Angeles, New
York, San Francisco and Washington, DC. The Company is a fully
integrated real estate company, organized as a real estate investment
trust (REIT), that develops, manages, operates, acquires and owns a
diverse portfolio of primarily Class A office space. The Company’s
portfolio totals 52.7 million square feet and 200 properties, including
fourteen properties under construction.